Average parameter estimates for cumulative prospect theory obtained in the affect-poor and affect-rich lottery problems and results of significance testing.

Note. Standard deviations are in parentheses. γ and α model the sensitivity to probabilities and outcomes, respectively, with higher values indicating higher sensitivity; δ models the elevation, with higher values indicating higher risk aversion; g indicates the probability of random guessing. The G2 expected under chance is 116.45.* Significant tests after adopting a Bonferroni-Holm correction [50]. With m = 5 tests, the observed p values are first ordered in ascending order and are then tested with α1 = 0.05/m, α2 = 0.05/(m−1), …, αj = 0.05/(m−(j−1)).** One-tailed.Average parameter estimates for cumulative prospect theory obtained in the affect-poor and affect-rich lottery problems and results of significance testing.